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Presidential Announces New High-Tech Lending Office at Reston Town Center, Virginia

Presidential Savings Bank has announced that it will be opening a high-tech business oriented lending office at 1760 Reston Parkway, Reston, VA.  The new office will focus on financing the Internet- and data communications-oriented companies and related businesses located in the rapidly growing Dulles Corridor market, stretching from Tysons Corner to Dulles Airport in Northern Virginia.  This is the area in which America Online, MCI Worldcom, Nextel, Winstar, and numerous other communications companies are headquartered.

Consistent with the Bank's limited branching strategy, a banking branch intended primarily to service the Bank's business customers, in support of the its new high-tech lending office,  is planned for the Reston area in the year 2000.